Dubai based group make bid for Chartlon Athletic fc

[Bender]

Charlton Athletic have confirmed they have received "an indicative cash offer" to buy the club from a Dubai-based investment company.

The club confirmed in a statement that it will enter a period of due diligence with Zabeel Investments.

The statement added: "Should the offer be made formally to shareholders, the board would recommend shareholders to accept it.

"There is, however, no certainty that a formal offer will be made."

Zabeel Investments have been looking for an opportunity to invest in an English club for some time.

Charlton were last year the subject of interest from a group of businessmen from the Middle East and Europe, but takeover talks were later called off.

[Leyton388]

This is starting to become a worry now. Soon enough every club is going to be a billionaires toy. Football is soon going to be a rich mans sport.

[Shanks]

How much are they paying for Charlton??

and what is Ashley asking for Necastle?

[Bender]

How much are they paying for Charlton??

and what is Ashley asking for Necastle?

Ashley has reduced his asking price for the club from £450m to a figure in the region of £280m to £300m.......which is still deemed too much by some...as fo charlton can't see them being worth more than £100million...if anything a bit less

[monkeytennis]

Dubai set to drop Liverpool interest after bid for Charlton

http://www.guardian.co.uk/football/2008/oct/10/charltonathletic-liverpool

Charlton Athletic were last night the subject of a takeover bid by the Maktoum family in a deal that would seem to end Dubai's interest in Liverpool.

The Valley club's efforts to play down the deal last night by insisting there is "no certainty" that the "indicative" bid will become a formal offer will not restrain unbridled excitement in south-east London. The involvement of Sheikh Hamdan Al-Maktoum, son of Dubai's ruler, Sheikh Mohammed, through his Zabeel Investments vehicle would make the ascendancy of a club that dropped out of the Premier League with only 34 points in 2007 almost a certainty.

The Maktoum family had been involved in fruitless negotiations with the Anfield club's owners, George Gillett and Tom Hicks, and also turned down the opportunity to purchase Newcastle United. Hicks recently travelled to Dubai with a view to offloading his 50% stake in the club but the talks were inconclusive. Then Mike Ashley and Dennis Wise also paid a visit in an attempt to generate interest in Newcastle but according to sources familiar with the discussions the sums the pair demanded were considered unrealistic.

Their attention then turned to Charlton. Superficially there would seem to be few motives for taking over a club who lie only 14th in the Championship today. But there was an influential link with Liverpool in that Rothschilds, the investment bank, had represented the five-times European champions and also worked for Charlton.

The Valley club have been scouring the market for fresh investment in recent months but few could have considered that the Dubai ruling caste would be interested in a Championship club. One close observer of Dubai's football negotiations expressed surprise at the deal, saying: "They usually go for the front of the grid."

However another explained that as Gulf potentates go, Dubai is the junior partner to Abu Dhabi and the investment by Sheikh Khalifa bin Zayed Al Nahyan in Manchester City has shifted Premier League politics. The Charlton purchase may have been motivated by a desire not to be seen to "outdo" Abu Dhabi United Group by taking over England's most decorated club.

Any notion that Liverpool might still fall into Dubai's hands appears misguided since there would also be the further complication of Premier League and Football Association ownership rules. A single owner may not purchase two clubs in the same competition and the prospect of promotion as well as the chance of them being drawn against each other in a cup competition has complicated the issue. "Everything in Dubai goes back to the royal family," as one insider with knowledge of the deal stated.

A statement from Charlton's board said: "In spite of being approached by various English football clubs as well as a number of well-known clubs in Europe and South America, Zabeel Investments believes Charlton is the right club for them."

Amid a fire-sale of Premier League clubs Charlton have undoubtedly benefited from the effects of their good husbandry in recent years. With their Premier League parachute payments expiring at the end of last season, the board kept a tight rein on spending.

The directors even loaned the club almost £4m in interim funding in an effort to stabilise its finances in straitened times. In contrast to the £100m-plus borrowings of many top-flight clubs, Charlton's debts are believed to have been restricted to seven figures with the sales of players such as the £16m striker, Darren Bent, to Tottenham.

"We feel now is the right time to make a strategic, long-term investment in Charlton and get CAFC back to the English Premier League where they belong," said Zabeel Investments' executive chairman Mohammed Al-Hashimi.

"The passion of the fans at Charlton, the heritage of the club and the unique status it enjoys in the community make it an exciting proposition for us."

[Vermilion]

This is starting to become a worry now. Soon enough every club is going to be a billionaires toy. Football is soon going to be a rich mans sport.

Don't worry, we'll be ok....in comparison we'll still be owned by paupers, a er reminder to the others how football clubs used to be run.

Dubai not buying us was ok, but to see them buy another club after saying it was Liverpool or nothing is a little unsettling, leaves a bad taste too imo.

[dom9]

This is starting to become a worry now. Soon enough every club is going to be a billionaires toy. Football is soon going to be a rich mans sport.

Soon?

[sniffer]

Looks like dumb and dumber have done it again

FFS piss off you stupid yanks you have been unrealistic with your valuation or is it just greed

[Vermilion]

So, they've pulled out citing the economic climate and worries about how foreign ownership in Prem clubs is being viewed, stuff they already knew before they went in for Charlton, very strange.

[Elvoz]

So, they've pulled out citing the economic climate and worries about how foreign ownership in Prem clubs is being viewed, stuff they already knew before they went in for Charlton, very strange.

they are talking ****e
good start for whoever they do take over - lying ****ers from the start

[Vermilion]

they are talking ****e
good start for whoever they do take over - lying ****ers from the start

It's a strange one, to announce the intention to buy then pull out so soon after, doesn't instil confidence in their judgement.

[fah-q]

Or they realised that Charlton is a **** club to buy